Betclic fights back against French tax investigation 

Betclic has denied any wrongdoing in relation to an investigation launched by the French Tax Inspectorate (DNEF) into its Malta subsidiary.

French news sources reported this week that the DNEF had ‘seized documents from Betclic premises’ in October. These documents are related to the business activities of its Maltese subsidiary, Betclic Enterprises Limited.

The Inspectorate initiated an investigation into Betclic Enterprises on suspicions of ‘conducting business in France without submitting the necessary tax declarations.’

The DNEF justified its seizure of documents as evidence suggesting that Betclic Enterprises Limited might be conducting part of its commercial activity ‘on French territory without correctly accounting for the revenues or submitting corresponding tax declarations.’

Betclic reportedly challenged the DNEF’s seizure unsuccessfully. The group issued a statement to French media denying any accusations of tax fraud, stating, ‘Betclic respects all of France’s tax and social regulations.’

The legal counsel of the French online gambling group cited that the Inspectorate ‘has an erroneous understanding of the group’s structure,’ and has acted on ‘incorrect analysis’ of the group’s domestic and international operations.

Betclic is the flagship sportsbook property of FL Entertainment, a media and entertainment conglomerate of Lov Group and Vivendi.

This week, FL reported that Betclic had generated Q1 revenues of €244m (+14%), along with an underlying EBITDA of €63m (+8%) – results reflecting “Betclic’s continued growth post World Cup 2022”.